Browsing: Barclays Africa Group

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This is Absa’s new logo

Barclays Africa Group is getting a revamp, ending Barclays’ 100-year history on the continent. The lender on Wednesday ditches the name of its former parent to revert to Absa Group after the British bank sold down

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Guptas sue bank over account closures

Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four

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Shuter shakes up MTN management team

MTN Group senior executive Stephen van Coller said his role has been changed to head of digital services at Africa’s biggest wireless operator, seven months after he joined the company as head of strategy. The former investment banking

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SA banks on offensive against political attacks

South Africa’s banks are going on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them

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Huge spike in IT spending at Barclays Africa

Spending on IT at Absa parent Barclays Africa Group spiked by 17% to reach R7,4bn in the 2016 financial year ended 31 December, accounting for 19% of group costs. And the figure looks set to rise further still. Barclays Africa Group said on

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Bank collusion case strengthens Zuma’s hand

A finding by the South African antitrust regulator that more than a dozen local and international banks colluded to rig foreign-currency trades will bolster government accusations that the nation’s biggest lenders

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Banks bashed in battle over Guptas

New allegations by President Jacob Zuma’s supporters that South Africa’s biggest banks are frustrating efforts to address racial inequality signal an escalation of a battle for control of the nation’s financial system, including the treasury. Protestors from the

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Banks mull bids for Sassa contract

Three of South Africa’s biggest banks are considering bidding to distribute government welfare payments to more than 17m people as a contract with a unit of Net1 UEPS Technologies comes to an end after years of legal battles. The existing contract

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